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dLocal

Provider
PSPFX / PayoutsUnified FX

Embedded-finance provider tracked in the Embedded Finance Index — disclosed by 16 companies across 3 categories.

dlocal.com ↗Also analysed as a company — its own stack →
CategoriesPSP, FX / Payouts, Unified FX
Rank#36 of 538 in PSP
Buyers16 companies
HeadquartersMontevideo, Uruguay
Founded2016
FoundersAndrés Bzurovski, Sergio Fogel
Raised$350M+ (pre-IPO)
TickerNASDAQ:DLO
Market cap~$3B
IPO2021
Pre-IPO raised$200M

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Founders & story · from dLocal’s own dossier

Founded 2016 as a single-API cross-border payments processor connecting global merchants (Spotify, Google, Uber, Netflix) to emerging-market consumers in LatAm, Africa, and Asia. Bootstrapped early before raising from General Atlantic, reaching unicorn status in 2020 and IPO'ing on Nasdaq in 2021. Currently broadening from pure payins/payouts into BNPL aggregation (BNPL Fuse), stablecoin rails (Circle Payments Network, Stable Sea), and platform/marketplace tooling — positioning as the 'financial OS for emerging markets' rather than just a PSP.

Latest round: IPO (Nasdaq: DLO), June 2021
Recent developments
  • 2026-01Announced Asia as strategic expansion priority with hiring and Vietnam/Thailand licensing plans source ↗
  • 2025-06Announced acquisition of AZA Finance (African payments provider) for ~$150M source ↗
  • 2025Joined Circle Payments Network to power stablecoin payouts across emerging markets source ↗
  • 2025-01Received UK FCA Authorised Payment Institution license source ↗
Full dossier: dLocal’s own stack, layer by layer →
Who uses dLocal
16 companies disclose dLocal in their stack
InDriveSheinFireblocksAmazonShopeePayWakanowJusttMailchimpYapeGr4vyPedidosYaPayQuicker+4 more
Buyer mix · 16 of 16 classified
Infrastructure / Payments · 5E-commerce / DTC brand · 1E-commerce / Platform · 1Fintech / Cross-border payments · 1Fintech / Digital wallet · 1Fintech / Neobank · 1Horizontal SaaS / Collaboration & Cloud Storage · 1Horizontal SaaS / E-commerce · 1
US · 8APAC · 2LATAM · 2Africa · 1MENA · 1EU · 1
What the disclosures say
InDrive
“Nuvei press release names inDrive as customer for Latin America driver payouts (2023). dLocal publicly lists inDrive as customer and launched cashless payments/driver payouts in South Africa (2026).”
Shein
“Checkout.com published a case study 'Local payments expertise power SHEIN's global expansion' with a direct quote from Ted Wang, Head of Payments, SHEIN. dLocal lists Shein as a customer and published a case study 'Scaling global eCommerce with localized payment solutions' describing integration of 900+ local payment m…”
Fireblocks
“Fireblocks Network directory (fireblocks.com/platforms/fireblocks-network/directory) lists connected third-party providers including dLocal, Bridge (Stripe), Circle, Yellow Card, OpenPayd. [coerced currencies: kept "USD", also reported: multi-currency stablecoin]”
Amazon
“dLocal publicly lists Amazon as a customer (TIER 1).”
ShopeePay
“ShopeePay Payment API documents three payment methods (MPM/CPM); Airwallex docs list ShopeePay as e-wallet acceptance method; dLocal press release announces payin/payout partnership; Payrails docs configure ShopeePay via dLocal.”
Wakanow
“Outpayce press release (July 2024): 'Wakanow will use virtual cards to make payments to suppliers like airlines and hotels through Outpayce's B2B Wallet.' dLocal press release (July 2024): dLocal partnership via Kalabash subsidiary enables local-currency collections across Africa.”
The complete buyer list and each company’s full embedded-finance stack are in the Embedded Finance Index report. Represent dLocal? Claim this profile above to unlock your own full list.
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What dLocal runs on · from its own dossier
The third-party providers dLocal itself discloses, layer by layer — the vendor as a buyer. Distinct from the companies above that disclose dLocal.
FX / Payouts
Convera
Crypto / Stablecoin
CircleStable Sea
Open Banking
dLocal PISP
Full dossier with evidence for each layer →
Alternatives to dLocal

Other PSP providers in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.

Stripe783 buyers →Adyen278 buyers →PayPal153 buyers →Checkout.com113 buyers →Worldpay89 buyers →Mollie64 buyers →checkout59 buyers →Braintree57 buyers →
Share this rank

An embeddable badge for dLocal’s own site — it always shows this page’s current rank, so it stays accurate as new disclosures land. States its own denominator; never claims a number this page doesn’t.

Ranked #36 of 538 in PSP — Embedded Finance Index 2026
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       alt="Ranked #36 of 538 in PSP — Embedded Finance Index 2026">
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dLocal — frequently asked

Which companies use dLocal?

16 companies disclose dLocal in their stack in the Embedded Finance Index 2026, including InDrive, Shein, Fireblocks, Amazon, ShopeePay, Wakanow, Justt, Mailchimp, Yape, Gr4vy and 2 others.

What does dLocal do?

dLocal is an embedded-finance provider in PSP, FX / Payouts and Unified FX. It ranks #36 of 538 PSP providers by disclosed buyers.

Is dLocal publicly traded?

Yes. dLocal trades as NASDAQ:DLO, listed since 2021.

What are the alternatives to dLocal?

The most-disclosed PSP alternatives to dLocal are Stripe (783 buyers), Adyen (278 buyers), PayPal (153 buyers), Checkout.com (113 buyers), Worldpay (89 buyers) and Mollie (64 buyers).

Who founded dLocal?

dLocal was founded by Andrés Bzurovski and Sergio Fogel and is founded in 2016, headquartered in Montevideo, Uruguay.

How much funding has dLocal raised?

dLocal has raised $350M+ (pre-IPO) in total.

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